Branding Psychology

Summary

To establish a long-lasting relationship, the brand provides intangible benefits that sometimes overshadow the tangible benefits of a brand. It is getting tougher with the explosion of communication technology, where people stay connected, to update information. The emergence of branding topics has been witnessed in the past with the explosion of branding categories that apply to both the manufacturing and service industries.  Brand is referred to as logo, symbol, name, or design that creates a trademark or signature that distinguishes goods or services. Creating a strong brand provides additional value that looks simple from the customer point of view, but is a great deal more important for a firm to survive the stiff competition in the market. The brand is a critical element to superior quality products, especially to a saturated market, hence, a trusted brand must be able to not only satisfy customer needs but also deliver superior quality on attributes that matter to customers: low cost of quality, overall cost leadership, and effective positioning.

©2020 Mike Parson (P)2020 Mike Parson